The electric truck maker Rivian just launched its IPO and the stock jumped more than percent on its first day of trading. This initial public offering comes as the Rivian R1T truck is reaching its first customers with about 200 models built so far.
Rivian's partners includes Amazon and Ford Motor Company, suggesting the new electric truck maker has already established a powerful network of support. The R1T starts at close to $70,000, but its list of innovative, truck-friendly features is impressive, and with Amazon already putting in an order for 100,000 deliver vehicles there's reason to believe the company will have both private and commercial demand for years to come. If Rivian can tap into Ford's dealer network as part of its collaboration with the Detroit automaker the EV startup will immediately have better customer support than more established brands like Tesla or Lucid.
Will Rivian's stock price continue to grow as it increases production and sales? When will the company become profitable? How much will it charge Amazon for those delivery vans? These are the factors analysts will be watching over in the 12 months following Rivian's IPO.
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